As trading for the week got underway, stocks increased as investors piled into tech stocks following previous setbacks.
By 159 points, or 0.4%, the Dow Jones Industrial Average increased. The Nasdaq Composite increased by 0.8% and the S&P 500 increased by 0.6%.
After Morgan Stanley raised Tesla’s stock and forecasted a sizable rise due to advancements with its autonomous software, the company’s shares increased by more than 5%. After Qualcomm said Monday that it will provide Apple with 5G modems for handsets through 2026, the semiconductor company’s shares increased by more than 4%.